We propose VLSI architectures with parallel I/O capability to compute the Two-Dimensional Discrete Wavelet Transform. Our design can handle large images arriving at high frame rates. A video codec based on our architecture can support multiple channels in parallel and can provide the needed performance for network based video applications. Our architecture with parallel I/O offers a solution for the low power needs of mobile/visual communication systems. Our architecture employs block-based I/O and a dual memory buffer to store intermediate results to schedule the filter operations. This leads to a high throughput rate of n pixels per clock cycle and a small memory size of j(l-1)(N+n)+2n^2, for an N x N input image, where n x n is the block size, l is the filter length, and j is the number of octaves. The resulting architecture has a latency of 2l+n for each octave and a total execution time of N^2/n+2l+n+3jn.